feeswitch

Does $ENA have long-term holding value in spot trading? Is synthetic USD promising for the future, and could there be an opportunity for a value reassessment?

eNA is the governance token of the Ethena protocol, which doesn't rely on traditional banks but instead uses spot collateral like $ETH and $BTC , along with perpetual contract shorts to hedge and issue the stablecoin USDE. By earning funding rates, users receive dividends, with SUSDE offering an annualized return of about 11.2%. This creates a high-yield native crypto dollar asset that has already been tested in the market.

I'm bullish on holding eNA in the long run. Institutions and whales who bought eNA early are still stuck in the range of $0.5 to $1, while eNA has dropped over 94% from $1.52, and its current market cap is just over $700 million. I believe it's time to start scaling in, with a base entry around the $0.085 mark.

With the fee switch about to launch, the platform's profits will be used to buy back tokens and support the price, along with dividends for long-term stakers. eNA is set to transform into a stable asset that generates ongoing yield, and its valuation will naturally be reassessed. If it reclaims the $1.52 mark, you'd be looking at a 1700% return.

I scoff at eNA at $1.50, but I'm scaling in at $0.08.

Trading details:

First batch at $0.085 (base position 30%)
Second batch at $0.07-$0.075 (adding 30%)
Third batch at $0.05-$0.06 (adding 40%) Even though this level is unlikely, it's wise to leave some capital for worst-case scenarios. As for targets, I'll be sharing insights with eNA spot holders in the chat room. #feeswitch